As traders, economists, and TV talking-heads parse every word of Janet Yellen's first FOMC statement for hints at when the punchbowl (if ever) will be removed, there is – as the following chart clearly shows – only one thing that really matters…
h/t @Not_Jim_Cramer
And as we know all that matters for stock prices is the Fed balance sheet…
Unfortunately, for those hoping for moar, the trend is not your friend as it seems we saw "peak FOMC words" in December…
So now we know – we must see more words or it's all over…
via Zero Hedge http://ift.tt/1gHlafb Tyler Durden